questions on Hang Seng future (HSI)

[def]

Fairly biggoted comments towards someone who has lived and worked in HK for the past 16 years You can call us white devils but you'd be only insulting a fraction of our company.

I know more about the HK derivatives market than most people. Your first problem is that you see fixated on stops in a market that doesn't support them and where the markets can be thin. Before you go ahead and claim that there is a racist element to your trading, perhaps it's best you look in the mirror first.

Quote from nakachalet:

in ref to trader from malaysia post....

he is telling the truth as the truth is known both in asia and in the west.... differently....

if someone from ib can not accept it, that is tough for you guys working for ib around the globe....

for people in hkg, you are only known as GWAI-LOW.... if you really want to know the meaning.... just go to any china town.... and ask a cantonese speaking chinese....

in hkg you can show up in person at their offices and curse at them for ----ing up your order and stop....

if you've never worked or traded in hkg, you'll never guess what the brokerage attitudes are like.... their best showing for taking responsibility is.... smiling at you and saying i am sorry.... can't help it.... next time, i'll be pay more attention....

to traders and brokerage houses from western hemisphere.... the entire trading culture in hkg is way way backward, unaccountable and irresponsible at best....

why does someone who has every trading convenience and possibly the best legal protection ever.... wishes to attempt to trade hkg markets.... where you are subject to practical whimsicality of local mostly selfish brokers et al....

pls do not get me wrong alright? i am just talking about trading and brokerage houses on the biz front ok?

hkg is a beautiful place, it has practically everything a human could ask and wish for.... at a much reduced price (a better choice would be bangkok);.... and the view from my window at the peak, looking down at the harbor and all.... is just spectacular both day and night.... someone already said that i have multiple personalities loving too many loveables, places, careers and all others all at the same time.... as well....

 

[def]

Quote from mcdull:

Just want to report another issue for HSI. I filed that issue around 2 years ago but the problem is still not fixed.

I have written a program using IB API to log the snapshot data (reqMktData). If I take a look on the HSI snapshot data, sometimes, there are a lot of strange volume spikes (like a few hundreds to 2000 contracts) but they are not found in other HSI data sources. It normally happens when the second of the time is either 00 or 30. e.g. 9:51:30, 10:01:00, 10:03:30...

I use the same program to log FDAX, ES and YM but I don't observe the same problem.

Hope you can help.

The HKFE data is snapshot data. The exchange used to snap shot the quotes eery 1000 milliseconds and has changed it now to 500ms or 100ms depending on which service a broker subscribes. (IB does 100ms). Either way a lot can happen between the snapshots. In addition spread orders and other factors including trades are recorded will have an impact.

 

[mcdull]

Quote from def:

The HKFE data is snapshot data. The exchange used to snap shot the quotes eery 1000 milliseconds and has changed it now to 500ms or 100ms depending on which service a broker subscribes. (IB does 100ms). Either way a lot can happen between the snapshots. In addition spread orders and other factors including trades are recorded will have an impact.

I compared IB snapshot data with Reuters QuoteCenter snapshot data. I couldn't find any periodical huge volume spikes in QuoteCenter. If I am watching QC side by side with other local data provider (e.g. aastocks or Bank of China International), QC volume is almost identical to aastocks or BOCI. But IB snapshot data is something like: IB volume is behind the "actual volume" for almost 30 seconds, and then at the 30 second interval, it has to catch up the "actual volume" with a snapshot of huge change in the "Volume" field. Hope this is enough information for you to talk to your engineer and reproduce the problem.


I only noticed it in API only, I didn't notice any anomalies in TWS java client display.

 

[mcdull]

Quote from def:

Fairly biggoted comments towards someone who has lived and worked in HK for the past 16 years You can call us white devils but you'd be only insulting a fraction of our company.

I know more about the HK derivatives market than most people. Your first problem is that you see fixated on stops in a market that doesn't support them and where the markets can be thin. Before you go ahead and claim that there is a racist element to your trading, perhaps it's best you look in the mirror first.

I am a native Cantonese speaker living in HK for more than 30 years . I can say the local people don't use GwaiLo as a racist phrase anymore. GwaiLo is an informal way to say western foreigners.

 

[Yamidaka]

http://www.elitetrader.com/vb/reply.php?s=&action=newreply&postid=1463045

Quote from enlightedtrader:



Hi there,

I'm living in the west coast of US. I'm interested in day trading Hang Seng future (HSI) in the evening. I've tested trading HSI on IB simulator. Here are what I've observed:

1) The chart is not updated in time. You can see the clear difference from the price of bid/ask and the price shown on the chart.
2) The volume is not correct. Very little volume is shown on the chart.
3) The stop order fill is so terrible, you can't believe your eyes. I'm using 20 points stop. The fill is usually 30 to 100 points away from the stop level I set. I don't know what the hell is going on? If that is the case, how can we day trade HSI?

Hope some experienced HSI traders can give me some clue.

Thanks a lot.

enlightedtrader

 

[def]

Quote from Yamidaka:

http://www.elitetrader.com/vb/reply.php?s=&action=newreply&postid=1463045

Are you using the paper trader or the demo. If the demo, it is just that a demo. If the paper trader, are you sure you are using the front month for HSI? The front month is the current month up until the next to last business day of each month. Regardless, the paper trader in the end only tries to simulate the market. I'd suggest you try with the real thing but with MHI which is a mini contract and thus far less risky.

 

[nakachalet]

Quote from def:

Are you using the paper trader or the demo. If the demo, it is just that a demo. If the paper trader, are you sure you are using the front month for HSI? The front month is the current month up until the next to last business day of each month. Regardless, the paper trader in the end only tries to simulate the market. I'd suggest you try with the real thing but with MHI which is a mini contract and thus far less risky.

may i ask

where are you registered as broker, pls?

are you also licensed in hkg, pls?

thx

 

[def]

Quote from nakachalet:

may i ask

where are you registered as broker, pls?

are you also licensed in hkg, pls?

thx

IB is a member and registered broker in many places around the world including hong kong where we are licensed by the sfc. Main office is in the US. Branch office in hong kong.

 

[nakachalet]

Quote from enlightedtrader:

Hi there,

I'm living in the west coast of US. I'm interested in day trading Hang Seng future (HSI) in the evening. I've tested trading HSI on IB simulator. Here are what I've observed:

1) The chart is not updated in time. You can see the clear difference from the price of bid/ask and the price shown on the chart.
2) The volume is not correct. Very little volume is shown on the chart.
3) The stop order fill is so terrible, you can't believe your eyes. I'm using 20 points stop. The fill is usually 30 to 100 points away from the stop level I set. I don't know what the hell is going on? If that is the case, how can we day trade HSI?

Hope some experienced HSI traders can give me some clue.

Thanks a lot.

enlightedtrader

a word of caution.

just never expect brokers in hkg to follow rules and regulations so much taken for granted in the u.s.

even profitable traders in the u.s. might just accumulate more losses than ever imaginable when trading in hkg, bkg or s'pore et al markets, due to differing local practices and trading factors beyond traders' control.

as traders you would have little or no recourse ESSENTIALLY AND PRACTICALLY whatever, when you trade independently in almost all asean markets.

certainly, am not implying there are mostly crooked trades/deals but that the trading environments are just not setup for the benefits of independent traders who are almost and always at the end of feeding line....

even if a trader has a legitimate complaint, the general brokers' attitude is....

so....;

so what....;

sue us.... if you have enough resources....;

did i hear you said--consumers' protection....? right, where is its office anyway? look into wan chai district, perhaps.

still wanna trade in the asean markets....?

if general brokers' attitudes did not dissuade you, then....

perhaps everything that you mentioned above and everything that you fear might happen--hopefully they will intimidate you enough to think twice or thrice.... before playing low balls with those smartly dressed and very sleek brokers, most of whom are under the armpits or influences of someone higher up....

that is how most of them operate and survive, generally saying one thing in public and doing differently in private. better trade in the u.s. or euro or aussie markets, in my humble just one man opinion, K? my former sweetheart was a very well compensated broker, mind you.

nakachalet@gmail.com

 

[def]

Quote from nakachalet:

a word of caution.

just never expect brokers in hkg to follow rules and regulations so much taken for granted in the u.s.

even profitable traders in the u.s. might just accumulate more losses than ever imaginable when trading in hkg, bkg or s'pore et al markets, due to differing local practices and trading factors beyond traders' control.

as traders you would have little or no recourse ESSENTIALLY AND PRACTICALLY whatever, when you trade independently in almost all asean markets.

certainly, am not implying there are mostly crooked trades/deals but that the trading environments are just not setup for the benefits of independent traders who are almost and always at the end of feeding line....

even if a trader has a legitimate complaint, the general brokers' attitude is....

so....;

so what....;

sue us.... if you have enough resources....;

did i hear you said--consumers' protection....? right, where is its office anyway? look into wan chai district, perhaps.

still wanna trade in the asean markets....?

if general brokers' attitudes did not dissuade you, then....

perhaps everything that you mentioned above and everything that you fear might happen--hopefully they will intimidate you enough to think twice or thrice.... before playing low balls with those smartly dressed and very sleek brokers, most of whom are under the armpits or influences of someone higher up....

that is how most of them operate and survive, generally saying one thing in public and doing differently in private. better trade in the u.s. or euro or aussie markets, in my humble just one man opinion, K? my former sweetheart was a very well compensated broker, mind you.

nakachalet@gmail.com

You have no clue about regulators out here who are quite strict. Brokers who do not follow the rules and regulations will be not be allowed to conduct business. Interesting enough, you mention Singapore and hong kong which have very strong regulators and segregation rules while touting the US. You might want to look in your own back door and track down where cash went missing on the client sde this past year with MF and PFG. LOL.